North Carolina State Treasurer Brad Briner said the state's $200 billion pension fund will avoid investing directly in SpaceX's IPO due to its high $1.77 trillion valuation, which he believes leaves little room for gains. Instead, the fund has invested heavily in AI startups OpenAI and Anthropic, which Briner sees as offering better risk-reward potential. SpaceX plans to go public with a $1.8 trillion valuation, raising about $75 billion. The pension fund expects to gain indirect exposure to SpaceX through index funds after the IPO rather than private investments.
US stock futures rose after a softer-than-expected Consumer Price Index (CPI) report reduced the chances of a Federal Reserve rate hike in July. The market now awaits today's Producer Price Index (PPI) data, which could either confirm easing inflatio...
The FAA has approved SpaceX to resume Starship prototype flights after identifying the cause of a booster failure in May. The next launch, planned for July 16, will be the second flight of the Starship V3 and will carry the first third-generation Sta...
